Komfie Manalo, Opalesque Asia:
London based European Credit focused asset management firm LNG Capital announced the launch of LNG FX fund.
LNG founder and chief executive officer Louis Gargour said the strategy is an actively managed UCITs FX systematic strategy and the managers have been producing strong results at LNG for almost two years in managed account format.
Ukraine, Gaza conflicts worry investors
In his weekly commentary, Gargour said the market is driven by fear that is why LNG is oscillating between risk on and risk off in a same day. "Tension in Ukraine and Gaza is weighing on current attempts to stage a bull trend," he said and added, "Banco Espirito woes are at the forefront of sentiment. Asian and commonwealth growth is still a positive."
On Monday, The Journal reported that hedge funds appeared to have wasted little time putting their short positions back on troubled Portuguese lender Banco Espirito Santo. The Portuguese regulator set a ban on short-selling the shares at the beginning of July and finally lifted it at 11:59pm on Wednesday, having extended it a number of times.
According to Gargour, Europe is continuing to show some weakness as the production dipped and was revised lower with Germany showing signs of easing. Also, the Ger......................
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